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ARM acquires UK imaging firm Apical for USD 350 mln
2016-05-18 08:43:00| Telecompaper Headlines
(Telecompaper) Chipmaker ARM has announced the acquisition of UK imaging products company Apical for USD 350 million in cash. ARM described Apical as one of the UK's fastest-growing technology companies, whose advanced imaging products are currently used in more than 1.5 billion smartphones and around 300 million other consumer electronics devices, digital cameras and tablets. The acquisition is intended to support ARM's long-term growth strategy by enabling new imaging products for next generation vehicles, security systems, robotics, mobile and any consumer, smart building, industrial or retail application where intelligent image processing is needed.
Symantec to cut 1200 positions, USD 400 mln in costs
2016-05-13 11:06:00| Telecompaper Headlines
(Telecompaper) Symantec has reported results for its fiscal fourth quarter to 1 April, with revenues slipping to USD 873 million from 899 million the year before, in line with company guidance. CFO Thomas Seifert also said the company was making significant progress on its USD 400 million efficiency programme, aiming to eliminated stranded costs from the Veritas divestiture, rationalise corporate infrastructure and simplify its Enterprise Security portfolio. During a conference call after the released of its results, Symantec gave more details about the plan, saying it wants to cut about 1,200 positions, or 10 percent of its work force, and close some facilities over the next two year, the Wall Street Journal reported. The move is expected to result in a one-off charge of USD 230-280 million.
NavInfo to acquire MediaTek's AutoChips unit for USD 600 mln
2016-05-13 10:42:00| Telecompaper Headlines
(Telecompaper) MediaTek has signed a partnership agreement with NavInfo. NavInfo plans to acquire AutoChips, a Chinese subsidiary of MediaTek, for USD 600 million. AutoChips is a provider of automotive infotainment SoC services. The transaction is scheduled for completion in the fourth quarter of this year, subject to regulatory approvals. Concurrently, MediaTek plans to invest in or co-invest with NavInfo, an amount of up to USD 100 million, to cooperate in the fields of Automotive ICs and the Internet of Vehicles (IoV).
Telecom Italia offers EUR 820 mln in cash for Metroweb
2016-05-10 08:38:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has tabled a formal EUR 820 million all-cash offer to acquire Milan-based fibre provider Metroweb, according to an unnamed source cited by Reuters. Metroweb is currently owned by state-lender Cassa Depositi e Prestiti (CDP) and infrastructure fund F2i, with Swisscom subsidiary Fastweb also retaining a minority stake, and the report indicates Telecom Italia is prepared to buy 100 percent of the company or a two-thirds controlling stake. Telecom Italia's bid pits it against utility giant Enel, which has reportedly offered around EUR 400 million for the 54 percent stake in Metroweb owned by F2i, valuing the broadband provider at EUR 776 million.
Vonage buys Nexmo for USD 230 mln
2016-05-06 07:57:00| Telecompaper Headlines
(Telecompaper) Vonage has agreed to acquire privately-held Nexmo, a provider of cloud communications platforms, for USD 230 million in cash and stock. There is also an additional earn-out opportunity of up to USD 20 mln. Vonage noted that Nexmo is the world's second largest CPaaS company as measured by revenues and that it will provide an entry point for Vonage to expand its brand globally and sells its systems in EMEA, Asia Pacific and other geographies. Tony Jamous, co-founder and CEO of Nexmo, joins Vonage as president of Nexmo, a Vonage company, along with co-founder Eric Nadalin, CTO, and Nexmo's 170-person team.
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